USD/JPY Open 76.19 High 76.32 Low 75.70 Close 76.16
On Wednesday Dollar/Yen increased with 60 pips, matching the positive Interbank sentiment at above +10%. The currency couple appreciated from 75.70 to 76.32 yesterday, closing the day at 76.16. This morning the Dollar is descending against the Yen, but with movements still within yesterday's range for now. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart quotes broke down of the narrow trading range. Break above yesterday's top and nearest resistance 76.32 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 75.70, and consistent break bellow it could strengthen the Yen further down towards next target 74.88. Today are Japan BoJ meeting announcement, Nationwide and Tokyo-area CPI, at 3:30 and 23:30 GMT respectively. Quotes are moving just bellow the crossed and almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 76.32 77.17 78.00
Technical support levels: 75.70 74.88 74.00
Trading range: 76.10 - 75.45
Sell at 75.97 SL 76.27 TP 75.57
Already made +33 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 76.15 SL 76.41 TP 75.65, exit sent at 8:03 GMT+1.
Total today +156, yesterday +107, as shown in details at http://www.zifx.com/performance.php.